Steve Shannon, a 5-year veteran who headed the content and services unit, will be exiting the company.

Under Roku’s new executive structure, staff and resources for advertising, content distribution and related services will be combined. The company said the move will help it roll out innovative products, drive user engagement and generate more revenue from active accounts.

Rosenberg joined Roku in late 2012 to build the company’s ad business. While skeptics wonder about the long-term prospects given the presence of tech behemoths like Amazon, Google and Apple in the streaming space, Rosenberg has helped the company diversify its revenue so that it is less dependent on sales of its streaming boxes and dongles.

The independent start-up has had a memorable year, going public in September and seeing its share price more than double to today’s close at $54.76.

Shannon joined Roku in 2012 to lead the content and services group, grow distribution revenues for the Roku platform and build industry relationships.

“Steve joined Roku in the early days of our monetization strategy and was instrumental in developing key advertising, content and services initiatives as well as recruiting top talent like Scott,” said Roku CEO Anthony Wood. “We are grateful for the contributions Steve made and wish him the very best as he moves on to his next great adventure.”